Rs 1,000s offloaded for as little as Rs 300 TNN
With many reluctant to deposit their money in banks for fear of tax sleuths, discounting of high denomination notes began soon after the PM's speech. “At some places like Crawford Market and Zaveri Bazar, people were selling Rs 1,000 notes for Rs 800 and even as little as Rs 300,'' said advocate Anil Harish.

as old 500 rupee and 1000 rupee notes get cancelled , new 2000 rupee and 500 rupee notes will be only in limited supply in future . so will be forced to rely on cheque and electronic media to transfer money . illiterate people will have a problem doing transactions by cheque and electronic media as they cannot even sign themselves . many poor people dont even have bank accounts to deposit 500 rupee and 1000 rupee notes which they possess in the stipulated period upto 30 december . jaitley today talked of moving towards a cashless economy , but many people in their seventies and eighties are not comfortable using plastic money like credit and debit cards .

modi may have backstabbed the gujarati marwadi sindhi businessmen who had supported him with funds earlier . they are going to be affected by this decision .

modi hopes to get poor peoples' vote as this decision will be liked by them , but from the poor communities muslims and dalits at least are not going to turn their voting pattern around and vote for BJP. it remains to be seen as to how much electoral benefit will accrue to the BJP by this decision .

as old 500 rupee and 1000 rupee notes get cancelled , new 2000 rupee and 500 rupee notes will be only in limited supply in future . so will be forced to rely on cheque and electronic media to transfer money . illiterate people will have a problem doing transactions by cheque and electronic media as they cannot even sign themselves . many poor people dont even have bank accounts to deposit 500 rupee and 1000 rupee notes which they possess in the stipulated period upto 30 december . jaitley today talked of moving towards a cashless economy , but many people in their seventies and eighties are not comfortable using plastic money like credit and debit cards .

modi may have backstabbed the gujarati marwadi sindhi businessmen who had supported him with funds earlier . they are going to be affected by this decision .

modi hopes to get poor peoples' vote as this decision will be liked by them , but from the poor communities muslims and dalits at least are not going to turn their voting pattern around and vote for BJP. it remains to be seen as to how much electoral benefit will accrue to the BJP by this decision .

Zero balance account under jan dhan yojana for those not having bank account.
Old people should accept change as they accepted with their health in old age.
There is nothing as back stabbing the G-M-S businessmen infact this move will give businesses a boast in the long run.
At times to get rid of cancer and pain some body parts have to be ampulated,some painful medicines like chemo etc has to be taken,even radiation.Modi is doing the same to the cancer which has invaded Indian system.

Just appreciate his bold step risking votes for BJP in favor of the nation.

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There are four kinds of people to avoid in the world: the assholes, the asswipes, the ass-kissers, and those that just will shit all over you.

as old 500 rupee and 1000 rupee notes get cancelled , new 2000 rupee and 500 rupee notes will be only in limited supply in future . so will be forced to rely on cheque and electronic media to transfer money . illiterate people will have a problem doing transactions by cheque and electronic media as they cannot even sign themselves . many poor people dont even have bank accounts to deposit 500 rupee and 1000 rupee notes which they possess in the stipulated period upto 30 december . jaitley today talked of moving towards a cashless economy , but many people in their seventies and eighties are not comfortable using plastic money like credit and debit cards .

modi may have backstabbed the gujarati marwadi sindhi businessmen who had supported him with funds earlier . they are going to be affected by this decision .

modi hopes to get poor peoples' vote as this decision will be liked by them , but from the poor communities muslims and dalits at least are not going to turn their voting pattern around and vote for BJP. it remains to be seen as to how much electoral benefit will accrue to the BJP by this decision .

If old people are willing to adapt new medical researches, new medication they better learn new economy. Anyways 100 dollar bills are still valid.
If they are spending a few thousands, it does not matter. People that have hoarded crores will now have to buy suitcases like in movies from 80s. BTW US does not have any bill greater than 100. Maybe 500 could have stayed but then he has literally killed cash economy.
My family has business in india and we know how this whole cash business works. Everything is on "Parchi" . Vendors from Delhi gives us parchi when he delivers goods and collects cash on his next monthly visit. We sell in cash and there is no tax. We only did some cash business but there are business that will have a turn over of 1 Cr on paper and 100 crore in cash.

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My family has business in india and we know how this whole cash business works. Everything is on "Parchi" . Vendors from Delhi gives us parchi when he delivers goods and collects cash on his next monthly visit. We sell in cash and there is no tax. We only did some cash business but there are business that will have a turn over of 1 Cr on paper and 100 crore in cash.

all these people must have supported BJP with funds for election campaigns . now must be cursing .

last time people moved away from congress and voted for VP Singh , he gave us mandal and literally churned the political fabric of the country .

now people again turned away from congress and voted for BJP and modi gave us this .

many poor and illiterate people do not know about their own jan dhan yojana accounts . my servants all have old 500 and 1000 rupee notes and dont know where to deposit them .

They must be trying the sympathy tactic so that you exchange notes on their behalf and with the other bosses where they work.
The poor in Mumbai are the first to get all their documents(ration card,rajiv gandhi arogya yojana etc) in order where they can get govt benefits for the poor.
And if they have not heard of the various schemes by govt then we,to some extent, are at fault for not informing or advising them about it.

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There are four kinds of people to avoid in the world: the assholes, the asswipes, the ass-kissers, and those that just will shit all over you.

The whole thing is,. Govt now wants the ppl strictly to transact by check, machines, cards, net and all virtual transactions and transfers,.. and extreme low aap-le / len-den on visible cash, just like USA, so black money can be totally curbed,.. Just like we do in USA. We have not seen even many coins and new bills how they look for decades, as al is by CC and paying bill on line and depositing income pay-check directly in account,..

!!

Hey Bhagwaan

How do you manage to write such big posts and who do you think would be reading such long posts of yours
Try to write small and meaningful posts so that you get readers and not get ignored.

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There are four kinds of people to avoid in the world: the assholes, the asswipes, the ass-kissers, and those that just will shit all over you.

Its not about where you are reading from.
If the quality is good then you dont mind consuming huge quantity
Your posts are like answers written to get extra marks because examiners dont have time to read the whole answer but seeing the length they assume it to be well explained answer.

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There are four kinds of people to avoid in the world: the assholes, the asswipes, the ass-kissers, and those that just will shit all over you.

The big game plan -
Modi and BJP had been saying that they will work towards getting black money from Swiss accounts and elsewhere back home.

So Modi's game plan was to first give amnesty with an assumption that many folks with black money will come forward. The amnesty was pretty straight forward that no questions will be asked. Just declare your money and assets, pay a fine and move on.

I think hardly anyone came forward.

To open mouth close the nostrils tight!
When the amnesty did not work and the opposition kept on baying for blood over black money, Modi decided to follow with the next step which would be extreme and ruthless - cancel currency notes of higher denomination.

Now you might say this was done before in the past. But the difference between then and now is that you cannot get back lower denomination notes from the bank. You need to deposit the money first, provide PAN card, and now if you have more than a couple of lakhs then the Income Tax will come sniffing.

Change is good but is it good for the country or is it too rapid a change?

Change is good but very rapid change can be disastrous. We have seen it all around the world where things went from bad to worse when change was too rapid.

I say its too rapid because corruption is not just in us in the form of currency notes but also in our DNA, our working style, everything.
Okay, right now Modi has screwed all black money hoarders, but what about the corrupt bureaucrat and government official who will still ask for a bribe? And oh yes, he will ask for it in Rs 100 denomination.

So on one hand I am happy that something awesome is being done to fix corruption and fake currency notes, but at the same time I wonder if this rapid change does not cause the slogan "Ek Hi Bhool, Kamal Ka Phool, Aglo Baari, Priyanka Humari" to become true.